RPg Family Wealth Advisory LLC Takes Position in Tenet Healthcare Co. (NYSE:THC)

RPg Family Wealth Advisory LLC acquired a new position in Tenet Healthcare Co. (NYSE:THC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 53,456 shares of the company’s stock, valued at approximately $8,884,000. Tenet Healthcare makes up 2.5% of RPg Family Wealth Advisory LLC’s investment portfolio, making the stock its 7th biggest holding.

A number of other large investors also recently modified their holdings of THC. Legacy Capital Group California Inc. purchased a new stake in Tenet Healthcare during the third quarter valued at about $1,055,000. Diversified Trust Co bought a new position in Tenet Healthcare during the 2nd quarter worth approximately $558,000. Envestnet Portfolio Solutions Inc. lifted its position in Tenet Healthcare by 124.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,787 shares of the company’s stock valued at $1,701,000 after purchasing an additional 7,078 shares during the last quarter. Caprock Group LLC bought a new position in shares of Tenet Healthcare in the second quarter worth approximately $477,000. Finally, Intech Investment Management LLC raised its holdings in Tenet Healthcare by 44.4% during the 3rd quarter. Intech Investment Management LLC now owns 79,266 shares of the company’s stock valued at $13,174,000 after buying an additional 24,385 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald increased their target price on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. UBS Group lifted their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Raymond James downgraded Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price for the company. in a report on Friday, November 22nd. Barclays boosted their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada lifted their target price on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $168.19.

Tenet Healthcare Stock Up 1.6 %

Shares of NYSE:THC opened at $145.64 on Wednesday. Tenet Healthcare Co. has a 12-month low of $65.90 and a 12-month high of $171.20. The stock has a market capitalization of $13.85 billion, a price-to-earnings ratio of 4.66, a PEG ratio of 0.64 and a beta of 2.15. The stock has a fifty day simple moving average of $158.44 and a two-hundred day simple moving average of $148.32. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period last year, the business earned $1.44 EPS. Tenet Healthcare’s revenue was up 1.1% compared to the same quarter last year. On average, research analysts anticipate that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the transaction, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider R. Scott Ramsey sold 11,599 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the completion of the transaction, the insider now owns 6,324 shares in the company, valued at $1,024,867.44. This trade represents a 64.72 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is owned by insiders.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.